Online Reporter
Energy and Power Development Minister Zhemu Soda has dismissed the Petrotrade board of directors on charges of poor corporate governance.
Addressing a media conference in Harare on Wednesday, Minister Soda said the board, which was appointed in May 2021, was dismissed on the recommendation of an independent investigation.
As a result, the board was fired in terms of Section 16 of the Public Entities Corporate Governance Act.
“However, I appreciate the position taken by some of the members to resign.
“This is acceptable to the ministry and a clear indication of professionalism and humility with which you have handled the matter.”
An interim board of directors will be announced soon, he added.
ENDS_